There are 3 types of entrepreneurs:
NOT-SUCCESSFUL: Seems obvious but many entrepreneurs will fall flat on their faces and give up the entrepreneurial gig. The thing about these types of entrepreneurs is, there is a reason that they have failed. No, really, there is. Failure doesn’t just happen, nor does success. They are not taking their businesses seriously, not learning from their mistakes, not utilizing all the resources available to them, or are sort of half-assing their efforts. There are few things in this world that are just instantly successful. Determination and drive (as well as being willing to fail and to try again) are characteristics of successful people and successful entrepreneurs. Every failure is a lesson learned and each new attempt should bring you closer to success.
SEMI-SUCCESSFUL: This type of entrepreneur has experienced some success and has turned an average profit and is happy with it, but doesn’t really go beyond this initial success. They stay trapped in a bubble of comfort, perhaps not expanding to other seller platforms or adapting their designs / products to maximize sales. They do not advertise or utilize social media and they fail to explore other avenues in which to grow their business. They are likely breaking even or making a very modest profit, and are not re-investing this into other ideas or avenues for their business. They are, in short, just satisfied with being average. If they continued to brainstorm, rethink, re-invest and think larger they would likely become more successful. However, they are just happy driving in the middle lane of entrepreneurial success while others pass them by.
SUCCESSFUL: This type of entrepreneur is always thinking, planning, revising, always maximizing opportunities, and turning a profit. Continuously utilizing all the tricks of the trade and remembering to be apprised of – and ready to adapt to – new trends in an effort to stay current of what e-commerce consumers want. These types of entrepreneurs advertise heavily wherever possible, and definitely make the most of our digital world and social media outlets. They sell their products on a variety of seller platforms in order to extend customer base, and they cautiously pursue expanding their business. They utilize some profits by re-investing in their business or exploring new ones. They are super star entrepreneurs.
So, the question is: which type of entrepreneur do YOU want to be?
If the answer is “not successful” then why are you here? Go. Go now. I’m serious. There is nothing for you to learn here. I cannot help you. Loser. Oh crap, did I write that out loud? My bad. Sorry. No, sorry not sorry! #sorrynotsorry Why in the world do you want to be anything less than successful? No one truly wants to be less than successful, it just happens through lack of effort and drive.
So, obviously, if you have stumbled upon this blog you are attempting to be successful and to try to find ways to do that. Yay! That is what I want to hear. You may stay and, hopefully, learn. Good for you. #yougoyou
OK, so, what are some key ways to be that successful and enthusiastic entrepreneur?
• THE 3 Ts – Test, Track and Tweak. Being successful in e-commerce (or, anywhere really) requires adaptability. The world is in a constant state of flux with trends changing literally daily. Social media makes these normal changes in trends much faster because of the rapid infusing of public opinion on Twitter, Facebook and Instagram to name a few. So, it is instrumentally important to first test your product / design with targeted audiences, to track results over time to see if your desired product / design stays popular and to tweak the designs / products as needed. In fact, sometimes a design or product needs to be eliminate all together because it is just not hitting the mark as needed.
• THE 2 Ss – STICK OR STOP. Many times in life we have a decision to make on whether to stick or stop. For example, if you invest in the stock market, each day you have the choice on whether to keep or sell your stock. When you play BlackJack you have a choice on whether to stick or take another card. Being an e-commerce entrepreneur is much the same, you have to be able to realize when to stick with a product / design or when to give up. Sometimes you need to start all over with a new product or design, and sometimes you just need to be a little patient and wait for the sales. Figuring out the right move can be one of the hardest things to learn as a new entrepreneur.
• THE 1 E – EXPAND. Probably the most important thing that separates the semi-successful entrepreneur from the super successful entrepreneur is the willingness and ability to expand their business. Sticking to one seller platform and never experimenting with others is a self-limitting decision. Yes, it can be scary to have more than one ball in the air and to have to maintain the different seller sites, but, if you are smart about which you choose and how much you expand at a time, being wary to not go TOO fast, then you are sure to experience more success. Plus, finding a niche and the appropriate seller platforms to support this will help you to expand successfully.
• LASTLY, LEARN. Everything in life is a lesson, and often it is our failures or the times when we are not as successful that teach us the greatest lessons. In e-commerce there is a huge learning curve and the most successful entrepreneurs know how to pay attention to the lessons that failure teaches. When you market a product or design that you think is a sure hit, but it is a total and utter flop, you should set your sights on finding out why it was a flop. Was it the design? The wording? The color? Did it sell hot for a while, then die? Do some more target testing to see what suggestions may be out there to improve the product. Similarly, if something sells really well try to figure out how you can adapt and change it to perhaps find another product or design that would be equally successful. We never stop learning nor do we ever learn it all.
When you decide to invest your time and money into a business it is always your hope that it becomes successful and financially sound. What everyone needs to remember is that success starts and ends with YOU. You make the conscious choice on how seriously you are going to take your success and if you are going to strive for greatness or be happy with being average. So, think it, do it, be it – SUCCESSFUL.